Spire (NYSE:SR) Issues FY24 Earnings Guidance

Spire (NYSE:SR) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $4.15-4.25 for the period, compared to the consensus EPS estimate of $4.32. Spire also updated its FY 2024 guidance to 4.150-4.250 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank of Canada reiterated a sector perform rating and set a $65.00 price objective on shares of Spire in a research note on Tuesday, April 16th. StockNews.com upgraded shares of Spire from a sell rating to a hold rating in a research note on Friday, May 3rd. Mizuho lowered shares of Spire from a buy rating to a neutral rating and lowered their price objective for the company from $64.00 to $62.00 in a research note on Thursday, May 2nd. LADENBURG THALM/SH SH assumed coverage on shares of Spire in a research note on Friday, April 26th. They set a neutral rating and a $57.50 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Spire from $64.00 to $66.00 and gave the company an equal weight rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $62.50.

Spire Trading Down 0.2 %

Spire stock opened at $66.11 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 3.15 and a beta of 0.51. Spire has a 1 year low of $53.77 and a 1 year high of $68.02. The firm’s 50 day moving average price is $61.64 and its two-hundred day moving average price is $60.61.

Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.04. The firm had revenue of $414.10 million for the quarter, compared to analyst estimates of $313.86 million. Spire had a net margin of 9.40% and a return on equity of 8.10%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.42) earnings per share. On average, research analysts predict that Spire will post 4.2 EPS for the current fiscal year.

Spire Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Tuesday, September 10th. Spire’s dividend payout ratio is 76.26%.

Insider Buying and Selling

In other news, EVP Steven P. Rasche acquired 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average price of $23.83 per share, with a total value of $107,235.00. Following the purchase, the executive vice president now owns 16,500 shares of the company’s stock, valued at approximately $393,195. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.86% of the company’s stock.

About Spire

Spire Inc, together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.